Det Norske builds stake in North Sea Ivar Aasen extension

Det norske oljeselskap and E.ON E&P Norge have agreed to exchange interests in two licenses offshore Norway.

Jun 26th, 2014

Offshore staff

TRONDHEIM, Norway – Det norske oljeselskap and E.ON E&P Norge have agreed to exchange interests in two licenses offshore Norway.

E.ON will transfer 20% of PL 457 in the centralNorth Sea to Det Norske. The concession is east of and adjacent to PL 001B which contains the Det Norske-operated Ivar Aasen field.

Wintershall’s discovery in late 2012 confirmed an extension of the field into PL 457. Unitization discussions between the two sets of license partners should be concluded soon.

Assuming approval from Norway’s authorities, Det Norske’s interest in the license will rise to 40%.

In exchange E.ON will receive 15% of Det Norske’s 35% stake in PL 613 in the Barents Sea, 10% of PL 676 S in the North Sea, and a cash consideration.

06/26/2014

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